The recent rate cuts by the United States Federal Reserve have provided a bullish trigger for Bitcoin, allowing it to cross the critical level at $60,000 and continue moving upwards. Artificial intelligence algorithms and crypto experts are optimistic about Bitcoin's price, with predictions ranging from hitting $70,107.84 by October 1, 2024 to the possibility of Bitcoin reaching $70,000 in the near term. Technical analysis indicators and chart patterns also suggest that Bitcoin is poised for further gains. However, it is important to note that trends can change, and conducting thorough research is crucial when investing.
Analyst Jamie Coutts Says Crypto Market Could Be in the Final Throes of a Bearish Phase – Here’s Why